Morgan Advanced Materials (LON:MGAM) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Morgan Advanced Materials plc (LON:MGAM) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 212.45 and traded as high as GBX 214.50. Morgan Advanced Materials shares last traded at GBX 213.50, with a volume of 8,931,029 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MGAM. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Morgan Advanced Materials from GBX 250 to GBX 235 and set a “hold” rating on the stock in a report on Friday, September 5th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 250 target price on shares of Morgan Advanced Materials in a research report on Friday, December 5th. Finally, Royal Bank Of Canada downgraded Morgan Advanced Materials to a “sector perform” rating and decreased their price objective for the company from GBX 250 to GBX 210 in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 233.75.

Morgan Advanced Materials Trading Up 3.4%

The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The firm has a market cap of £591.43 million, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The business’s fifty day moving average is GBX 204.48 and its two-hundred day moving average is GBX 212.45.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.